As the January 31, 2023 deadline of the Central Bank of Nigeria on the old and the new currency notes nears, the apex bank has encouraged Nigerians to adopt other channels of payment.
“The CBN issued its vision 2025 payment system, that is a confirmation of the fact that Nigeria is ahead of many countries when it comes to development of the payment system. How well do we want to confirm that we are way ahead? The ATM card you are holding is much more sophisticated than most of the cards that we have in other countries, we need to continue to lead the way.
“E-naira is another form of payment channel and CBN is actually expanding the scope of merchants that are accepting e-naira. Jump into e-naira, open your wallet, you will meet anybody in CBN to teach you how. You can open an e-naira wallet apart from your regular naira wallet where you don’t have bank accounts.”
Alada added, “Following the directives of the CBN that only the newly redesigned new notes should be loaded into ATM, all the banks visited today whose ATMs were dispensing actually dispensed new notes. But some of the experience we had was that some banks, majority of their ATMs were not dispensing and they claimed that they ran out of money; upon enquiry by the CBN team, some of them were obliged of forced to load the machines again from the stock they had.
“The critical part of this assignment now is to actually ensure that the newly introduced aspect by the CBN that is cash swap and under this arrangement, the CBN is to ensure that the underserved, under-banked will also have access to new notes and we’re leveraging on the agents to serve these people and under the programme.
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